Minneapolis Federal Reserve Bank President Neel Kashkari said Sunday that fast resolutions on tariffs with countries would ease recession fears and restore confidence in the markets.
Kashkari made the comments in an interview with CBS' "Face the Nation" in response to a question about the odds of a recession amid President Donald Trump's tariffs and trade war with China.
"Are there quick resolutions to these trade uncertainties with our major trading partners? The faster those resolutions come, I think the more that confidence can be restored, and hopefully those odds can be brought down," Kashkari said. "But it is a serious situation if everybody gets nervous at the same time, businesses and consumers, and they all pull back at the same time that can lead to an economic downturn just by itself."
Kashkari added that the financial markets are orderly amid the volatility.
"So that volatility is to be expected, but markets are functioning, transactions are happening, and so I anticipate that's going to continue," he told CBS.
The Trump administration is touting a plan to reach 90 deals with 90 countries in 90 days amid Trump's 90-day pause on new tariffs. Baseline tariffs remain as do the 145% tariffs on China.
"And so there's a lot to try to unwrap right now, and we're doing our best to try to keep our arms around it," Kashkari said.
Mark Swanson ✉
Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.
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